Purbaya: Germany's Economy Is More 'Sharia' Than Indonesia's

Indonesia’s Finance Minister, Purbaya Yudhi Sadewa, made a bold statement at the 2026 Sharia Economic Forum in Jakarta, asserting that Germany, while not a Muslim-majority country, has outpaced Indonesia in implementing Sharia principles in its economy. He emphasized that Sharia economics focuses not only on religious adherence but also on ensuring fairness and sustainability in the financial system. Purbaya noted that during his 2012 visit to Germany, he explored the German economic model and was impressed to discover that around 80% of banks are controlled by small regional banks offering low-interest loans. This stands in contrast to Indonesia’s banking system, which is dominated by large banks with high interest margins, contradicting Sharia principles, according to him.